GE CEO Jeff Immelt told an investor conference Wednesday that although the $2 per share target was still attainable, it was at the higher end of company expectations due to continued sluggishness in the oil and gas sector.

“If we wanted to take it off the page, we would have taken it off the page," Immelt said of maintaining the company’s goal, according to the Journal. "And we didn't want to."

Details of potential additional cuts were not available, but Immelt said that GE is "managing enough acquisitions right now" and appeared to rule out further major divestments.

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